【9633 Earnings】Nongfu Spring's Net Profit Increased 31% Last Year to Over 15.8 Billion RMB, Revenue Surpassed 5 Billion, Final Dividend Increased 30% to 0.99 RMB

SocialAnxietyStaker · 2026-03-24T12:50:12+00:00

Nongfu Spring's net profit grew 30.9% year-over-year to 15.87 billion yuan, with revenue surpassing 500 billion yuan for the first time. Both packaged drinking water and tea beverage businesses recorded growth, with gross margin reaching 60.5%. Three new water sources were added, demonstrating business expansion.

SocialAnxietyStaker

2026-03-24 12:50:12

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Nongfu Spring (09633)
Last year, net profit increased by 30.9% year-on-year to RMB 15.87 billion, with revenue surpassing RMB 50 billion for the first time, up 22.5% year-on-year to RMB 52.55 billion. Nongfu Spring’s final dividend increased by 30.3% to RMB 0.99 per share.

The packaged drinking water business recovered growth last year, with revenue rising 17.3% to RMB 18.71 billion, accounting for 35.6% of total revenue. The group added three new water sources last year: Bada Gushan in Hunan, Longmen Mountain in Sichuan, and Nianqing Tanggula Mountain in Tibet.

Nongfu Spring’s gross profit margin increased by 2.4 percentage points to 60.5%.

Beverage product revenue accounted for 63.9% of total revenue, with tea beverages making up 41.1%, up 29% last year. Functional beverage products saw a revenue growth of 16.8% to RMB 5.76 billion, accounting for 11% of total revenue.

The group’s gross profit margin increased by 2.4 percentage points to 60.5%, driven by lower procurement prices for PET raw materials and reduced costs for packaging materials like cartons and raw materials such as sugar. Gross profit rose by 27.7% to RMB 31.81 billion.

During the period, Nongfu Spring’s sales and distribution expenses increased by 6.8% to RMB 9.8 billion.

Source: HKEX Announcement

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